Treasurer

What is an HOA treasurer?

An HOA treasurer is appointed to a homeowner’s association board to manage the community’s finances. They typically have a background in accounting or finance along with a basic understanding of how a managed community operates. 

Key responsibilities of a treasurer include: 

• Overseeing the invoicing and dues collection process 
• Creating annual budgets 
• Managing the community’s reserve fund 
• Reviewing contracts with third-party vendors and making payments for services rendered
• Completing the HOA’s annual tax return either in-house or with the help of an accountant

A community’s governing documents define how a treasurer is selected, how long they serve, and what qualifications they need.

Why is a treasurer important to an HOA?

A treasurer maintains a long-term vision of the community’s financial requirements. They ensure monthly dues and fees are paid on time and used appropriately—this often includes paying for necessary maintenance and upkeep of shared spaces. 

A treasurer also provides a level of transparency by creating and sharing financial reports with the community. This gives residents peace of mind that their dues are being used responsibly. Comprehensive financial reporting also helps the HOA maintain legal compliance.  

Finally, effective management of the community’s reserve fund allows the HOA to plan for major improvements such as replacing roofs or resurfacing the swimming pool, etc. These types of repairs enhance property values and improve the overall aesthetic of the community.

How can you use “HOA treasurer” in a sentence?

The HOA treasurer presented the annual budget during last night’s board meeting.